Energy Partners starts roadshow for $150 million seven-year notes

By Paul A. Harris

St. Louis, July 21 - The roadshow got underway Monday for Energy Partners, Ltd.'s offering of $150 million senior notes due 2010 (B2/B+), according to a syndicate source.

The deal is expected to price mid-to-late in the week of July 28.

Credit Suisse First Boston is the bookrunner on the Rule 144A deal. Banc One Capital Markets, BNP Paribas, JP Morgan, Merrill Lynch, RBC and Wells Fargo Capital are co-managers.

Proceeds from the seven-year non-call-four notes will be used to redeem the company's 11% senior subordinated notes due 2009, to pay down its revolver and for general corporate purposes including acquisitions.

The prospective issuer is a New Orleans-based independent oil and natural gas exploration and production company.

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